DXN (brand)
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DXN is a multilevel marketing company based in Malaysia.[1] Founded in 1993 by Datuk Dr. Lim Siow Jin,[2] DXN manufactures and markets dietary supplements containing the mushrooms Ganoderma or Lingzhi. DXN products are marketed by affiliated companies Daehsan, Ltd. and Daxen in some countries in Europe and Asia.[3][4]
DXN Holdings Berhad was first listed on the main board of Bursa Malaysia in September 2003 and delisted in December 2011 following a takeover bid by the founder.[5][full citation needed] DXN Holdings was the sole shareholder of Daxen Biotechnology, a Malaysia-based manufacturer of monascus, vinegar, fruit enzymes and other beverage products.[6]
In 2013, DXN’s office in Kerala, India, was raided by the crime branch of the Kerala Economic Offences Wing for alleged violations of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. According to the crime branch, the company was running a money-chain Ponzi scheme. Documents and goods valued at 11.2 million Rupees were seized during the raid.[7]
In May 2015, subsequent to Canadian Food Inspection Agency's inspection activities, a recall notice was issued in Canada for DXN brand instant coffees because the products contained milk which had not been declared on the product ingredient label. As such, the products posed a potential risk to consumers with milk allergies.[8]
In 2018, DXN was listed 15th on the Direct Selling News Global 100 list of direct selling companies.[9]
References
- ^ "Malaysia's DXN mulling aggressive marketing plan in Sri Lanka". Daily News. January 5, 2017. Retrieved November 28, 2018.
- ^ Daxen 2005 Financial Statement, Page 10, http://libapps2.nus.edu.sg/nus_hl/dxn2005.pdf
- ^ "DXN Europe Branches and Service Centers". Retrieved November 28, 2018.
- ^ "Contact Us". DXN Asia. Retrieved November 28, 2018.
- ^ KLSE Info, http://www.klse.info/counters/announcements/stock/ Archived 2013-02-18 at archive.today
- ^ "DXN disposes entire stake in Daxen Biotech". Daily Express. March 1, 2011. Retrieved November 28, 2018.
- ^ "CB raids offices of three multi-level marketing firms". The Times of India. January 8, 2013. Retrieved November 23, 2018.
- ^ "Food Recall Warning (Allergen) - DXN brand instant coffee products recalled due to undeclared milk". Canadian Food Inspection Agency. May 14, 2015. Retrieved March 11, 2018.
- ^ "DSN Announces the 2019 Global 100! - Direct Selling News".
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